It's taking millennials much longer in life to buy their first home

The average millennial buys their first home at age 36, a statistic that suggests it is taking longer than previous generations to hit a major milestone in building wealth. 

Thirty-six marks the oldest average age for Americans buying their first house, according to 2022 data from the National Association of Realtors. The average age for first-timer buyers was 33 in 2021, NAR said. 

"There's no getting around how tough buying a home can be in today's high-interest rates and high-price housing market," Jacob Channel, senior economist at LendingTree said Tuesday.